AJ Bell proposes 'fairer' income drawdown rule book

Chief executive of investment platforms and actuary Andy Bell said the current regime is in need of a comprehensive review. He said: "My proposals are simple, fair, tax generative, will boost spending and are a vote winner. What more could the government want?" "The thrust of our concerns can be distilled into something fairly simple. "The combination of the drawdown rules introduced from April 2011 and the continued reliance on 15 year gilt yields as a means for calculating maximum drawdown income have caused an imbalance between the need, which I accept, for risk mitigation and t...